MAXIMUS, INC. (MMS) Form 8-K — Oct 20, 2026
MAXIMUS, Inc. (NYSE: MMS) announced on October 19, 2026 that its subsidiary Maximus Federal Services signed a definitive agreement to acquire Agile Defense, LLC and affiliates (including IntelliBridge and RevaComm) from Arclight Equity Holdings for $660 million in cash, plus up to $50 million in revenue-based earnouts. The deal is expected to close in Maximus's first quarter of fiscal 2027, subject to HSR clearance and customary conditions, with no shareholder vote required. $15 million of the price will be escrowed for indemnification and a $100 million R&W insurance policy will be in place at closing.
Key figures
- Deal Value Usd
- 660000000
- Earnout max
- 50000000
- Outside date
- 2026-12-18
- Expected close
- Q1 fiscal 2027
- Rw policy limit
- 100000000
- Indemnity escrow
- 15000000
- Adjustment escrow
- 8000000
- Net leverage ex deal
- 1.7x
- Net leverage with deal
- 2.2x-2.3x
- Target net leverage range
- 2x-3x
AI analysis
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